High-Low Method, Cost Formulas During the past year, the high and low use of three different resources for Hy High Airtines occurred in July and Apritu The resources are airplane depreciation, fuel, and airplane maintenance. The number of airplane flight hours is the driver. The total costs of the three resources and the related riumtier of airplane flight hours are as follows: Required: Use the high low method to-answer the fosiowing questions. If an answer as zero, enter "0*. Ir reguised, routid your answers to nearest. dolint. Use the high-low method to answer the following questions. If an answer is zero, enter " 0 ". If required, round your answers to nearest dollar. 1. What is the variable rate for airplane depreciation? 5 per flight hour What is the fixed cost for airplane depreciation? 2. What is the cost formula for airplane depreciation? Total cost of airplane depreciation = 3. What is the variable rate for fuel? per flight hour What is the fixed cost for fuel? 4. What is the cost formula for fuel? Total cost of fuel =$ x 5. What is the variable rate for airplane maintenance? per flight hour What is the fixed cost for airplane maintenance? 6. What is the cost formula for airplane maintenance? Total cost of airplane maintenance =$ +($ 7. Using the three cost formulas that you developed, predict the cost of each resource in a month with 36,000 Do not round intermediate calculations.)